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What Repealing ObamaCare Means for American Families, Small Businesses

January 7, 2011|Posted by Don Seymour

Today, Congress will take the first steps toward repealing a law that if left in place could destroy more than 1.6 million jobs (most coming from small businesses), cost taxpayers $2.6 trillion, and add $701 billion to the deficit – the job-killing, budget-busting ObamaCare.

So what does the effort to repeal ObamaCare – as outlined in Republicans’ Pledge to America – mean for most Americans? A new report outlining the devastating impact of Democrats’ health care law on American jobs and our national budget has the answer.

If you have a job, need a job, or run a business of your own, you should know that repealing ObamaCare is a critical step toward fixing our economy. If the new health care law remains in place, workers and job creators alike will suffer:

“A study by the National Federation of Independent Businesses (NFIB), the nation’s largest small business association, found that an employer mandate alone could lead to the elimination of 1.6 million jobs, with 66 percent of those coming from small businesses.” (p.2)

“[M]ore than 130 respected economists addressed a letter to President Obama stating ‘the health care bill contains a number of provisions that will eliminate jobs, reduce hours and wages, and limit future job creation.’” (p.3)

"CBO has specifically noted how the employer mandate will disproportionately affect low-wage workers: 'Those penalties, whose amounts are based on the number of full-time workers in the firm, will, over time, generally be passed on to workers through reductions in wages or other forms of compensation. However, firms generally cannot reduce workers’ wages below the minimum wage, which will probably cause some employers to respond by hiring fewer low-wage workers.'" (p.5)

“Sections 1513 and 1003 of the health care legislation that passed Congress contain new mandates that penalize employers for failing to offer their workers coverage deemed ‘acceptable.’” (p.3)

If you pay taxes, you should know that repealing ObamaCare will help stop Washington’s job-killing spending binge. If the new health care law remains in place, our children and grandchildren will be buried under even more debt:

"If fully implemented, the health care law will cost taxpayers $2.6 trillion, while adding $701 billion to the deficit in its first ten years." (p.12)

"Medicare’s Office of the Actuary released an analysis showing that the new law would increase national health care spending by more than $311 billion over the next ten years." (p.14)

“Instead of lowering costs and reducing the deficit as promised, the health care law has left taxpayers on the hook for more spending and more debt.” (p.15)

And there’s much more. The full report concludes with a straightforward recommendation: “immediate steps should be taken to repeal the health care law and replace it with common-sense reforms to lower costs and protect jobs.”

ObamaCare was shoved through Congress and into law over the strong objections of the American people. In fact, a survey released this week found “that 60% favor repeal of the national health care law,” including “46% who Strongly Favor repeal.” The new House majority is listening and will take the first step toward repeal today.